US30 Checking In: Looking at the 4-Hour chart, it is in Bearish (directional) Market Bias with price action consolidating within an Inside Day pattern for an eventual breakout.
The lower wicks of the last three candles in succession created a Bullish Pressure Zone to really move the market up. That means a breakout from the Inside Day can potentially be at its high (at 42,137) and higher towards the S&R Zone (that starts at 42,258). Go Bulls!
US30 Last Call for Today: On the Hourly that is now in Bullish Market Bias, after this bull run, you'll see a retrace back down towards the Bearish Trendline (in red dotted line) to retest it, due to the Outside Day pattern in play. The bears may reach the trendline or get close enough, then head back up for a longer bullish rally towards the Swing Highs (of 42,525 and 42,561).
Afterwards, there will be the second bearish retrace.
US30 New Development: I forgot how quickly the Dow moves. On the Hourly, the bulls shifted their trajectory to cross up and breach the Bearish Trendline (in red dotted line). This would flip the market bias from Bearish to Bullish as the candle go to the right of the trendline. This means that the most profitable moves will be bullish ones.
Above are two Swing Highs that can also be breached (at 42,030 and 42,137), leading to a longer bullish thrust.
Also, an Outside Day formed, which means that after the bull run is over, you'll see an immediate retrace to the downside.
DJI Its obvious their is no total disconnect between financial news breakers and the stock markets smart money every article is negative as smart money is doing something different clearly they smart money insiders are operating behind the screen cleaning but like betting on race in vegas when they know result through buffering and tape delay
US30 Checking In:
